Purchasing a house is a life-changing decision that can affect not just your financial situation but your lifestyle as well. You must know what you should do and those you should avoid.
Tiktok influencer and real estate advisor, Mark Salerno, shared the top three mistakes many people made when buying a house.
First, you proceeded to buy a house when you hadn’t even gotten pre-approval for a mortgage. According to Salerno, purchasing a home is expensive; thus, you need to understand what you can afford clearly.
Second, you bought a house based on your emotions. Salerno said it's easy to get carried away when making your first purchase, but you need to set a budget and stick to it. His advice is not to get emotionally attached to a house that isn't yours.
Third, when you bought a house without properly surveying its neighborhood. Salerno said that the home’s neighborhood you want to purchase matters a lot regarding security, safety, and peace of mind. It can also affect the future value of your house. He said you could fix the house, but you could never fix the location.
The next time you plan to buy a new house, make sure to keep all these three things in mind.
Keep checking this space for more bite-size real estate tips from your favorite influencers.
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